Everything is easy with the benefit of hindsight but in my view...

Everything is easy with the benefit of hindsight but in my view the legal/contractualy rights of each party are secondary in all of this...

ANZ didn't just lend money they knowingly gave credibility to a buch of cabbages who manipulated the deal to give LVR's of 10% to the prudent masses and 95% to their 'mates'. What were they thinking?.. It's careless at best but from what I've read it smells a bit worse than that. Best thing for them to do now though is simply pay up with either shares or cash to Opes Prime's clients. It would've been better to do this in the first place but better late than never... and they can afford it. Even if they win in court it won't be much of a win in my view.